Analyst 11 Sep 20

Riverstone – Is the recent 32% decline justified? (12 Sep 2020)

Riverstone recently caught my attention. It has tumbled approximately 32% from an intraday high of $4.90 on 7 Aug 2020 to close $3.33 on 11 Sep 2020. One client even thought that Riverstone has already undergone a bonus issue! The recent weakness is likely attributed to its co-founder selling 15.5m shares at $3.95 (Bloomberg cites a 90-day lockup on seller); the possibility of a vaccine resulting in demand for gloves and consequently their average selling price (“ASP”) falling off the cliff and some Malaysia investors selling shares to raise cash, as their moratorium on loan repayment ends (click HERE for […]

Eagle chart 25 Oct 2019

Eagle Hospitality Trust falls to all time low price amid all time low RSI (28 Oct 19)

Dear all, S&P500 hit a near intra-day record high at 3,027 on 25 Oct 2019 (one-point shy of its intra-day record high 3,028 on 26 Jul 2019). However, such optimism and risk on sentiment cannot be felt on this SGX listed stock Eagle Hospitality Trust (“EHT”). It fell 16% last Friday to close $0.545. This is an all-time low price since its IPO (IPO offer price US$0.780) on 24 May 2019. Let’s take a look why this EHT has under-performed and why it has caught my attention this week.   Reasons why EHT has underperformed till date The below list […]

Table 1_Best World peer comparison

Best World – down 47% in 2 months! Buying opportunity or falling knife? (12 Apr 19)

With reference to my 19 Sep 2018 write-up (click HERE), Best World has appreciated approximately 147% from $1.35 on 19 Sep 2018 to touch an intra-day high of $3.33 on 13 Feb 2019. At that time, Best World has dropped out of my watchlist after its incredible rally. However, with its recent 47% tumble from its all-time intra-day high $3.33 on 13 Feb 2019 to trade $1.76 on 12 Apr 2019, it seems interesting again. Is this a buying opportunity or falling knife?   Why is it interesting? a) Valuations are more attractive now Based on Bloomberg (see Table 1), Best World […]